ROAR Newsletters

Insights and newsletters from across the industry

DEMSA Newsletter ¦ Summary

What you need to know this week Business Debtline launched the Building Up Business programme.Findings on the financial skills gaps of small business owners.Criticism of the lack of focus on small businesses ahead of the election.Sainsbury’s partnered with Klarna for BNPL services.Lowell’s new initiative, Debt Download.FCA promoting its innovation hub.Increase in mortgage balances with arrears.Key takeaways from the Consumer Duty event on 7 June 2024.IE Hub partnership with Wessex Water.Vikki Brownridge’s appointment to the MALG board.Cyber-security event on 9 July… Read more

DEMSA Newsletter ¦ Summary

Ofgem energy price cap will drop to £1,568 from 1 July 2024.36% of people contacting National Debtline are struggling with energy arrears.StepChange April 2024 statistics show 29% of clients in electricity bill arrears and 22% in gas bill arrears.VRS carer’s event highlighted key challenges in Carer’s Allowance.IPA Volume Provider Report 2023 includes insights into consumer debt remedies.Duty event follow-up: recording and slides to be distributed on 10 June 2024.DMCC Bill passed by UK Parliament on 23 May 2024.Stage 3 consultation… Read more

In The Know ¦ DEMSA Summary

The Data Protection and Digital Information Bill has been dropped due to the 4th July election.NCSC and major UK insurance associations have issued joint guidance on ransom payments for cyber incidents.Recent hacks on Santander and Ticketmaster have raised concerns about cyber security.The FCA’s regulatory round-up confirms no major publications during the election period.StepChange is pushing for problem debt to be a high priority in the upcoming election.Economic abuse is increasingly recognised as a significant issue, with resources available for tackling… Read more

In The Know ¦ DEMSA Summary

General Election set for 4 July 2024; expect impacts on public sector engagements and regulatory progress.Inflation has eased to 2.3% as of April 2024, suggesting possible interest rate cuts this summer.UK private rents have increased by 8.9% over the past year, exacerbating affordability concerns.Over £1 billion was stolen through fraud in 2023, highlighting ongoing challenges in financial security.HSBC and Marks & Spencer Financial Services fined £6.2m for poor treatment of customers in arrears.FOS proposes new charging for Claims Management Companies,… Read more

In The Know ¦ DEMSA Summary

BNPL Popularity: 33% of UK consumers have utilized BNPL products, underpinning the need for clear regulatory and data access frameworks.FCA “Dear CEO” Letter: Focuses on the responsibilities of financial firms managing closed products and services, particularly in relation to debt buyers.Impact of Energy Sector on Debt: Discussions about how the energy sector can collaborate with debt advisors to tackle problem debts effectively.Telecoms and Debt Advice: Significant reliance on telecom providers by customers for debt advice, indicating the sector’s role in… Read more

In The Know ¦ DEMSA Summary

The Bank of England has maintained the interest rate at 5.25%.Inflation is predicted to drop to the Bank’s 2% target soon.StepChange reports a rise in UK mortgage holders using additional credit.Mortgage Charter review and PS24/2 implementation are upcoming.UK Finance reveals a 3% rise in mortgage arrears for Q1 2024.The ECB has released its business plan for 2024-25, focusing on setting standards for the enforcement industry.The FCA highlights key areas of focus for ARs acting as credit brokers.Motor finance sector faces… Read more